Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
RTNominal down12.480 -0.140 (-1.109%)
Research Report

25/09/2020 11:52

Evergrande's outlook revised to negative; rating affirmed

[ET Net News Agency, 25 September 2020] S&P Global Ratings revised the outlooks on
China Evergrande Group (03333), the company's property arm Hengda Real Estate Group Co.
Ltd., and offshore financial platform Tianji Holding Ltd. to negative from stable.
At the same time, the credit rating agency affirmed its'B+' long-term issuer credit
ratings on the three companies and its 'B' long-term issue rating on the U.S. dollar notes
issued by Evergrande and guaranteed by Tianji.
S&P believes Evergrande's liquidity is weakening amid the continual increase in
short-term debt obligations and potential repayment of a portion of its China domestic
"A-share" strategic investments in January 2021.
The deterioration is partly mitigated by the China-based property developer's good
contracted sales and active capital-raising plans, as well as management's focus on
improving leverage and liquidity amid regulatory tightening.
The negative outlook on Evergrande reflects S&P's view of the increasing liquidity
pressure on the company over the next six months, partly due to the imbalance in the
capital structure. It also reflects S&P's expectation that Evergrande's margin will
decline, weighing on its leverage. (KL)

Remark: Real time quote last updated: 13/05/2021 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2021 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.